Home / Knowledge / News / Apparel/Garments / JoS. A. Bank Clothiers earnings expected to plunge
JoS. A. Bank Clothiers earnings expected to plunge
16
Aug '13
JoS. A. Bank Clothiers, Inc announces that earnings for the second quarter of fiscal year 2013 are expected to be approximately $0.49 to $0.53 per diluted share, compared with $0.83 per diluted share in the second quarter of 2012.

Actual results will depend on, among other things, adjustments that may arise from the normal quarter-end processing. The second quarter of fiscal year 2013 ended August 3, 2013; the second quarter of fiscal year 2012 ended July 28, 2012.

Commenting on the earnings update, R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc. stated: "While our total Sales declined in the second quarter of fiscal 2013, we achieved stability in our gross profit margin rate. Specifically, our gross profit margin rate increased in both the fiscal months of June and July and the overall rate for the second quarter is expected to increase slightly from last year.

"Customers did not respond as well to some of our highly promotional, high sales volume marketing campaigns as they did in the prior year and total sales declined approximately 11% in the quarter, primarily during these promotional peaks.

"Day to day sales on the non-promotional portion of our business in stores increased during the quarter. As we implemented new marketing strategies, we were conservative with our marketing expenditures which enabled us to improve our marketing efficiency during the quarter."

"We are highly focused on improving our sales trend, and further improving both our gross profit margin rate and our marketing efficiency over the remainder of fiscal year 2013, with the overall goal of returning to previous years' levels.

"We will continue to modify and implement new marketing events and the related media placement to maintain efficiency and to drive sales. We will begin to annualize our declining sales and gross margin trends during the third quarter and for all of the fourth quarter, which means our opportunity for improvement is significant during those periods," continued Mr. Black.

JoS. A. Bank Clothiers, Inc., established in 1905, is one of the nation's leading designers, manufacturers and retailers of men's classically-styled tailored and casual clothing, sportswear, footwear and accessories. The Company sells its full product line through 612 stores in 44 states and the District of Columbia.

JoS. A. Bank


Must ReadView All

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search